In the recent NSW State Budget for 2013, the NSW Government has announced changes to the First Home Owner Grant (New Homes) Scheme. Currently, first home owners who purchase or build a new home under $650,000 on or after 1 October 2012 are eligible for the $15,000 grant.

As announced, the grant of $15,000 is extended for a further 2 years from 31 December 2013 to 31 December 2015, and then it will reduce to $10,000 from 1 January 2016.

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